What do you think: Should I re-finance?

To figure out if it makes sense to refinance you should find out what the difference in monthly savings will be. Accordingly to my calculation you'll save about $120 monthly, give or take. Of course there are costs associated with refinancing, so you should find out how much that is. Let's just use 5k as an example. At $120 monthly savings, it will take you about 3.5 years to recover the closing costs you paid. If you are going to keep your property for more than 3.5 years then it makes sense to refinance. Over the life of the loan, the savings on a lower rate will almost always exceed any costs associated with the refinance. So if your plans are long term, then it ususally makes sense.

Thanks. My plans are not long term. I plan to dump my house once the market regains some sanity. If someone made me a decent offer right now, I would take it.

within the next 6 months.

"I plan to dump my house once the market regains some sanity"

You should get a snickers bar then.

Shong is right. Closing costs are the issue. How much are closing costs? Me, personally, I like to refi if I get a lower rate & I don't care about closing costs. Do the math & see if it makes sense to you.

what's within the next 6 months, stevejhx impostor?